Equinor Commences Oil Production at Bacalhau Field Offshore Brazil

Production Underway at Bacalhau Field

Equinor, in collaboration with its partners, has announced the commencement of oil production at the Bacalhau field, situated in the pre-salt region of the Santos Basin offshore Brazil. The milestone was achieved on October 15, 2025, marking a significant advancement for the energy sector in Brazil and for Equinor's global operations.

The Bacalhau field represents Equinor's largest international offshore field development to date and is notable as the first greenfield pre-salt development in Brazil to be operated by an international company.

Project Overview and Location

The Bacalhau field is located approximately 185 kilometers off the coast of Ilhabela, São Paulo state, in ultra-deep waters exceeding 2,000 meters. The field holds estimated recoverable reserves of more than 1 billion barrels of oil equivalent (boe) for its Phase 1 development.

Production is facilitated by the advanced Bacalhau Floating Production, Storage, and Offloading (FPSO) vessel. This state-of-the-art facility measures 370 meters in length and 64 meters in width, boasting a production capacity of 220,000 barrels of oil per day (bpd) and a storage capacity of 2 million barrels of crude oil. The FPSO was supplied and is initially operated by MODEC, with Equinor planning to assume full operational control later.

Partnership and Technological Advancements

The Bacalhau project is a joint venture with a robust partnership structure:

• Equinor: 40% interest (operator)
• ExxonMobil Brasil: 40% interest
• Petrogal Brasil (a joint venture between Galp and Sinopec): 20% interest
• Pré-Sal Petróleo S.A (PPSA): Contract manager for PSA (non-investor)

The FPSO is equipped with combined-cycle gas turbines and other emissions reduction technologies, designed to achieve a low carbon intensity of approximately 9 kg CO2 per barrel of oil equivalent. The Phase 1 development includes 19 wells, comprising both producers and injectors, which will be brought online sequentially to ramp up and sustain production.

Strategic Importance and Future Outlook

Anders Opedal, President and CEO of Equinor, emphasized the significance of this achievement, stating, 'The safe start-up of Bacalhau marks a major milestone for Equinor. Bacalhau represents a new generation of projects that bring together scale, cost-efficiency and lower carbon intensity.' The project is expected to create approximately 50,000 jobs over its 30-year lifespan, contributing significantly to Brazil's economy.

The field was initially discovered by Petrobras in 2012, with Equinor taking over as operator in 2016. The investment for Bacalhau Phase 1 was approximately USD 8 billion, announced in 2021. Equinor anticipates providing further updates on the field's progress during the ramp-up phase in 2026.